Author: Sreelatha M

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Gold slips to ₹1.51 lakh, silver at ₹2.64 lakh

Gold prices slipped marginally on Thursday, June 18, offering some respite to jewellery buyers after recent gains, while silver extended its losses amid weak global cues and cautious investor sentiment.

According to the latest market rates, 24-carat gold was priced at around ₹1,51,900 per 10 grams, while 22-carat gold traded near ₹1,39,150 per 10 grams. Silver was quoted at approximately ₹2,64,900 per kilogram in major retail markets across the country.

In Delhi, 24-carat gold was available at around ₹1,52,050 per 10 grams, while prices in Mumbai hovered near ₹1,52,200. Similar rates were reported in Kolkata, Chennai and Bengaluru, reflecting a broadly stable trend across key cities.

The decline in bullion prices comes as investors react to the US Federal Reserve’s latest policy stance. The central bank indicated that inflation risks remain and another interest rate hike could still be on the table later this year. Higher interest rates generally reduce the attractiveness of non-yielding assets such as gold and silver, leading some investors to shift funds elsewhere.

Silver witnessed a sharper correction than gold, with traders reporting continued selling pressure in commodity markets. Analysts said silver remains more volatile because it is influenced not only by investment demand but also by industrial consumption trends.

Despite the slight fall in prices, jewellers said customer enquiries remain steady. Many consumers are closely tracking market movements, hoping for further corrections before making purchases for weddings, festivals and long-term investments.

Market experts believe gold continues to enjoy support from global uncertainties, including geopolitical developments and concerns over economic growth. However, expectations of tighter monetary policy in the United States are limiting any major upside in prices.

Globally, precious metals also faced pressure as investors assessed the outlook for interest rates and inflation. At the same time, easing crude oil prices and reduced geopolitical tensions helped prevent a sharper decline in gold.

For now, bullion markets are expected to remain sensitive to global economic data, central bank decisions and currency movements.

Also Read: Sensex down 100 points, Nifty slips below 24,050

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Corporate

Yum Brands sells Pizza Hut in $2.7bn deal

Pizza Hut is set for a major ownership change after Yum Brands agreed to sell the iconic restaurant chain to private equity firm LongRange Capital in a deal valued at approximately $2.7 billion.

The transaction marks one of the biggest developments in the global restaurant industry this year and signals Yum Brands’ efforts to sharpen its focus on its broader portfolio of fast-food businesses. Despite the sale, Pizza Hut will continue to operate under its well-known brand name and maintain its presence across international markets.

Founded in 1958, Pizza Hut has grown into one of the world’s largest pizza chains, with thousands of outlets spanning dozens of countries. However, like many traditional restaurant brands, it has faced increasing competition from delivery-focused rivals and changing consumer preferences in recent years.

LongRange Capital said it sees significant opportunities to strengthen the business through investments in technology, digital ordering, customer experience and restaurant operations. The private equity firm plans to work closely with management to support the brand’s next phase of growth.

Industry analysts view the acquisition as a vote of confidence in Pizza Hut’s long-term potential despite challenges facing the broader restaurant sector. The brand continues to enjoy strong global recognition and maintains a large customer base across both developed and emerging markets.

The deal also reflects growing investor interest in established consumer brands with opportunities for operational improvement and expansion. Private equity firms have increasingly targeted restaurant chains that can benefit from digital transformation and evolving consumer trends.

Yum Brands, which also owns KFC and Taco Bell, said the transaction aligns with its strategic priorities and will allow the company to focus resources on areas where it sees the greatest growth potential. The company emphasized that Pizza Hut remains a strong and valuable brand with considerable opportunities ahead.

The acquisition is expected to be completed after receiving the necessary regulatory approvals and meeting customary closing conditions.

Also Read: SpaceX valuation jumps $10bn as investors back future

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Corporate

SpaceX valuation jumps $10bn as investors back future

SpaceX has disclosed that it raised nearly $10 billion more through private funding rounds than previously reported, highlighting the scale of investor confidence in Elon Musk’s space and satellite ventures.

According to newly released financial details, the company has secured substantially higher funding over the years than earlier estimates suggested. The revelation comes as SpaceX’s valuation continues to soar, cementing its position as the world’s most valuable private technology company.

The additional capital has helped fund the rapid expansion of Starlink, SpaceX’s satellite internet business, which now serves millions of customers worldwide. Starlink has become a major source of revenue for the company and is seen as a key factor behind its growing valuation.

A significant portion of the funding is also supporting the development of Starship, SpaceX’s next-generation rocket designed for missions to the Moon, Mars and beyond. Musk has repeatedly described Starship as central to his long-term goal of making humanity a multi-planetary species.

The latest figures underscore how strongly investors are backing the future of the space industry despite economic uncertainty and market volatility. Analysts say SpaceX’s combination of satellite communications, launch services and deep-space ambitions makes it one of the most closely watched companies in the technology sector.

While the company remains privately held, its rising valuation and massive fundraising efforts continue to fuel speculation about a potential public listing in the future. Industry experts believe SpaceX’s ability to attract billions of dollars in fresh capital reflects growing confidence that space technology will play an increasingly important role in the global economy.

Investors remain attracted by SpaceX’s dominance in the commercial launch market. The company conducts frequent missions using its reusable Falcon rockets and continues to win contracts from governments, businesses and space agencies around the world.

Also Read: Vedanta, Hindalco, NALCO shares tumble after aluminium slide

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1 Minute-Read

Vedanta, Hindalco, NALCO shares tumble after aluminium slide

Shares of major aluminium producers fell sharply on Wednesday after global aluminium prices declined following reports of a US-Iran peace agreement. Vedanta, Hindalco and NALCO dropped up to 5–6% as investors reacted to expectations of improved metal supplies and lower geopolitical risks.

The proposed deal is expected to reduce tensions in the Middle East and could eventually ease concerns over energy and raw material disruptions, factors that had supported aluminium prices in recent months. Analysts said weaker aluminium prices may impact profitability for producers, prompting selling pressure in metal stocks despite broader market strength.

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Beyond

Zerodha, Groww get nod to offer US stocks

Investing in leading US companies could soon become much easier for Indian retail investors. Major brokerage platforms Zerodha, Groww, Angel One and Upstox have received regulatory approval to offer international investing services through Gujarat’s GIFT City, paving the way for direct access to US stocks and global markets.

The approvals have been granted by the International Financial Services Centres Authority (IFSCA), the regulator overseeing GIFT City. The move is being seen as a significant step towards making global investing more accessible to Indian investors who are increasingly looking beyond domestic markets for diversification and growth opportunities.

According to reports, the new services are expected to be rolled out over the next two to three months after the brokerages complete technology integration, testing and compliance requirements.

Under the proposed framework, Zerodha and Upstox will operate as broker-dealers, while Groww and Angel One will function under the Global Access Provider (GAP) model introduced by GIFT City to facilitate overseas investments. The structure is designed to offer a regulated and cost-effective route for Indians to invest in international equities.

Demand for overseas investing has grown rapidly in recent years as Indian investors seek exposure to global themes such as artificial intelligence, semiconductors, electric vehicles and space technology. Interest has further increased following the listing of high-profile technology companies and growing enthusiasm for AI-driven investments.

Several platforms, including INDmoney, Smallcase and HDFC Securities, already offer access to international markets. However, the entry of India’s largest retail brokerages is expected to significantly expand participation and bring global investing to a much wider audience.

Also Read: Grasim, Lubrizol open CPVC resin plant in Gujarat

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Corporate

Grasim, Lubrizol open CPVC resin plant in Gujarat

Grasim Industries and Lubrizol have inaugurated India’s largest chlorinated polyvinyl chloride (CPVC) resin manufacturing plant at Vilayat in Gujarat’s Bharuch district, marking a significant step towards strengthening the country’s specialty chemicals and building materials sector.

The facility was inaugurated by Gujarat Chief Minister Bhupendra Patel and is expected to play a key role in meeting the growing demand for CPVC resin used in pipes, fittings and other infrastructure applications. Industry officials said the project will help reduce India’s dependence on imported CPVC resin while supporting the government’s push for domestic manufacturing.

The plant has been developed through a joint venture between Grasim Industries, the flagship company of the Aditya Birla Group, and Lubrizol, a global specialty chemicals company. The partnership combines Grasim’s manufacturing expertise and market reach with Lubrizol’s technology and experience in CPVC solutions.

Officials said the new facility is equipped with advanced manufacturing technology and has been designed to cater to the rapidly expanding construction, housing and water management sectors. Demand for CPVC products has increased steadily in recent years due to their durability, corrosion resistance and suitability for hot and cold water applications.

Speaking at the inauguration, company representatives highlighted the strategic importance of local production in ensuring supply-chain stability and reducing exposure to global market disruptions. The plant is expected to strengthen India’s position in the specialty materials segment while creating employment opportunities and supporting economic growth in the region.

The project also aligns with broader efforts to promote industrial development in Gujarat, which has emerged as one of India’s leading manufacturing hubs. State government officials said investments in advanced manufacturing facilities are helping attract new industries and generate skilled jobs.

Industry experts believe the facility could significantly improve the availability of CPVC resin for domestic manufacturers, helping reduce import costs and enhancing competitiveness across the value chain.

As infrastructure development and urbanisation continue to drive demand for high-performance piping solutions, the new plant is expected to play an important role in supporting India’s long-term construction and industrial growth ambitions.

Also Read: Air India launches basic fare without complimentary meals

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Corporate

SpaceX acquires Anysphere for $60 bn after Nasdaq debut

SpaceX has announced a $60-billion all-stock acquisition of Anysphere, the startup behind the popular AI coding platform Cursor, marking one of the largest acquisitions of a venture-backed technology company. The deal comes just days after SpaceX’s highly successful Nasdaq listing and underscores Elon Musk’s growing ambitions in artificial intelligence.

Anysphere, founded in 2022, developed Cursor, an AI-powered coding assistant that has rapidly gained popularity among software developers and enterprises. The platform is widely used for writing, reviewing and debugging code, helping programmers improve productivity through AI-driven suggestions and automation.

According to reports, the acquisition is intended to strengthen SpaceX’s AI capabilities and help it compete more effectively with rivals such as OpenAI and Anthropic. Cursor has emerged as one of the fastest-growing AI software products, generating billions of dollars in annualised revenue and attracting backing from prominent investors including Andreessen Horowitz, Nvidia and Alphabet.

The transaction will be completed entirely through SpaceX stock, allowing the company to leverage its soaring market valuation without using cash raised through its recent IPO. Analysts say the move highlights how highly valued technology companies are increasingly using their shares as currency to secure strategic assets.

For Musk, the deal is also a significant step in integrating AI more deeply into the broader SpaceX ecosystem. Reports suggest Cursor’s technology and developer data could be used to enhance AI products within SpaceX’s AI division, including future coding and automation tools.

The acquisition is expected to close in the third quarter of 2026, subject to regulatory approvals and customary conditions. Investors responded positively to the announcement, with SpaceX shares extending gains after the news. The company’s market value has surged since its stock market debut, helping it emerge as one of the world’s most valuable corporations.

The deal reflects the intensifying race among technology giants to secure cutting-edge AI talent and products, as artificial intelligence increasingly becomes central to future growth and innovation across industries.

Also Read: Gold slips below ₹1.52 lakh , silver falls to ₹2,64,900

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Uncategorized

Japan inflation keeps BOJ on alert

Japan’s central bank is facing growing pressure to respond to persistent inflation, with markets closely watching the Bank of Japan’s (BOJ) next steps on interest rates.

Inflation in Japan has remained above the BOJ’s 2% target for an extended period, driven by rising food costs, higher wages and stronger domestic demand. The trend has strengthened expectations that the central bank could continue moving away from its long-standing ultra-loose monetary policy.

Investors are paying close attention to signals from the BOJ after it began normalising policy following years of negative interest rates and aggressive stimulus measures. Policymakers are now balancing the need to support economic growth with efforts to keep inflation under control.

For ordinary households, however, higher prices have increased pressure on budgets. The cost of food and everyday essentials has continued to rise, prompting concerns about the impact on consumer spending.

Financial markets are divided on how quickly the BOJ will tighten policy. Some analysts expect further interest-rate increases if inflation remains elevated, while others believe policymakers will move cautiously to avoid disrupting the economic recovery.

The BOJ’s decisions are being watched globally because changes in Japanese interest rates can influence currency markets, international capital flows and investment decisions. A shift towards higher rates could also strengthen the yen and alter borrowing costs across the economy.

As inflation remains above target, investors and businesses are looking for clues on how the central bank plans to navigate a changing economic landscape. The coming months are expected to be crucial in determining whether Japan’s long-awaited return to sustained inflation will lead to further policy adjustments.

Also Read: REITs, InvITs may attract ₹11.6 lakh crore by 2030

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Beyond

India raises export taxes on diesel, jet fuel

The Centre has increased windfall taxes on diesel and aviation turbine fuel (ATF) exports while keeping the duty on petrol exports unchanged, reflecting changing trends in global crude oil and fuel markets.

According to a government notification, the tax on diesel exports has been raised, while the levy on jet fuel exports has also been increased. However, the export duty on petrol remains unchanged. The revised rates came into effect immediately.

India reviews windfall taxes on fuel exports and domestic crude oil production every fortnight, adjusting the levies based on international energy prices and refining margins. The mechanism was introduced in 2022 to ensure that a portion of extraordinary profits earned during periods of high global energy prices is shared with the government.

Officials said the latest revision was driven by movements in global fuel margins and crude oil prices. Refiners have benefited from stronger export economics in recent weeks, particularly in diesel and aviation fuel markets, prompting the government to recalibrate the tax structure.

For oil companies and refiners, changes in export duties can influence profitability and export decisions. Higher taxes generally reduce the gains from overseas sales, while lower levies can improve margins and encourage exports.

For consumers, the immediate impact is expected to be limited, as the taxes primarily apply to exports rather than domestic fuel sales. However, analysts note that government policy on energy taxation plays an important role in balancing domestic supply needs, inflation concerns and revenue generation.

The decision comes amid continued volatility in global energy markets. Crude oil prices have remained sensitive to geopolitical developments, supply concerns and shifts in demand from major economies. Market participants are also closely watching developments in the Middle East and production decisions by key oil-producing nations.

India is one of the world’s largest fuel exporters, with private and state-run refiners shipping significant quantities of diesel, petrol and jet fuel to international markets. Changes in export duties are therefore closely monitored by the energy industry.

Also Read: New Fed chief Kevin Warsh signals policy shift

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Corporate

Schneider Electric and Foxconn forge AI infrastructure alliance

Schneider Electric and Foxconn have announced a strategic partnership to develop next-generation infrastructure for artificial intelligence (AI) data centres, reflecting the growing demand for computing power in the age of generative AI.

The collaboration brings together Schneider Electric’s expertise in energy management and digital infrastructure with Foxconn’s manufacturing capabilities. The two companies aim to create advanced solutions that can support the increasing power, cooling and operational requirements of AI-driven data centres.

The partnership comes at a time when technology companies around the world are investing heavily in AI infrastructure. The rapid adoption of generative AI applications has led to a surge in demand for high-performance computing systems, placing unprecedented pressure on data centre operators to expand capacity while improving efficiency.

Under the collaboration, the companies will focus on developing integrated solutions for AI data centres, including power distribution, cooling systems, automation technologies and other critical infrastructure components. The goal is to help operators build facilities that are more energy-efficient, scalable and capable of supporting advanced AI workloads.

For businesses and consumers, the growth of AI data centres may not always be visible, but these facilities form the backbone of many digital services used every day, from AI chatbots and cloud computing platforms to online search and data analytics tools.

The partnership also reflects a broader trend of collaboration across the technology sector as companies seek to address the infrastructure challenges posed by AI. With demand for computing resources expected to grow rapidly over the coming years, investments in reliable and sustainable data centre technologies are becoming increasingly important.

Executives from both companies said the alliance is intended to accelerate innovation and support the development of future-ready digital infrastructure. By combining their respective strengths, Schneider Electric and Foxconn aim to help customers deploy AI data centres more efficiently and at scale.

As AI adoption continues to expand across industries, partnerships such as this are expected to play a crucial role in shaping the next generation of global digital infrastructure.

Also Read: ISRO, DAE join hands to build 200-day Moon lander